Financial Aggregates May 2010

Total credit provided to the private sector by financial intermediaries rose by 0.5 per cent over May 2010, following an increase of 0.3 per cent over April. Over the year to May, total credit rose by 2.7 per cent.

Housing credit increased by 0.7 per cent over May, following an increase of 0.6 per cent over April. Over the year to May, housing credit rose by 8.6 per cent. Housing credit rose over May due to growth in lending to both owner-occupiers and investors.

Other personal credit fell by 0.5 per cent over May, following a rise of 0.2 per cent over April. Over the year to May, other personal credit increased by 3.1 per cent.

Business credit rose by 0.4 per cent over May, following a fall of 0.2 per cent over April. Over the year to May, business credit declined by 5.6 per cent.

Over the month of May, M3 rose by 0.9 per cent and broad money increased by 0.7 per cent. Over the year to May, broad money grew by 3.2 per cent.

All growth rates for the financial aggregates are seasonally adjusted, and adjusted for the effects of breaks in the series as recorded in the footnotes to tables. Figures showing the levels of financial aggregates are not adjusted for series breaks. Historical levels and growth rates for the financial aggregates have been revised owing to the resubmission of data by some financial intermediaries, the re-estimation of seasonal factors and the incorporation of securitisation data.